The Oil Fund Management Board (OFMB) has increased diesel compensation by more than 2 baht after global market prices surged, leading to a diesel price adjustment of 1.80 baht per liter, effective at 5 AM tomorrow (31 Mar 2026).
On 30 March 2026, reporters reported that the Oil Fuel Fund Management Committee (OFMB) resolved to raise the oil fund compensation rate to 18.76 baht following a global market price reaching 238 US dollars per barrel. This resulted in a retail price increase of 1.80 baht per liter.
The OFMB approved an increase in diesel compensation by 2.09 baht per liter, from the previous 16.67 baht to 18.76 baht per liter. This change will cause the diesel retail price to rise by 1.80 baht per liter, from 38.94 baht to 40.74 baht per liter, effective from 31 March 2026 onward.
The main reason for this price adjustment is the severe volatility in global oil prices over the past weekend. Diesel (Gas Oil) prices surged sharply, closing at around 238 US dollars per barrel on 27 March 2026, compared to the normal pre-war price range of approximately 92-95 US dollars per barrel.
Given the extreme volatility in global oil prices, the OFMB needed comprehensive information—including global market prices, neighboring countries' prices, the fund’s status, and consideration of economic impacts and burdens on citizens. This necessitated a meeting in the evening, from about 7:00 to 8:00 PM, with the compensation rate announced between 8:00 and 8:30 PM the same day.
This increase in compensation raises the Oil Fund’s daily expenditure by approximately 170 million baht, from 1,335 million baht to 1,505 million baht per day. As of 29 March 2026, the Oil Fuel Fund’s balance stands at a deficit of 42,148 million baht, divided into an oil account deficit of 4,833 million baht and an LPG account deficit of 37,315 million baht.
(Prices do not include the local maintenance tax for Bangkok.)